Standalone Medical Building with Exam
For Sale
$995,000
390 E Sunset Way, Issaquah, WA 98027
Standalone medical building features prominent signage, seven exam rooms, and washer/dryer amenities with easy access to I-90.
Property Size1,438 SF
Days on Market49
Property Features for 390 E Sunset Way
General Information
Standard status
Active
Size
1,438 SF
Class
C
Property subtype
Office
Additional Details
Highway Access
Yes
Building Details
Building Size
1,438 SF
Year Built
1930
Listing Agency:
Leibsohn & Company
Listed By:
Dan Krekel, CCIM · License #52285
(206) 295-6052
Source:
Leibsohn
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 13 at 4:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Leibsohn & Company
Investment Insights
Based on property information with market context.
Standalone medical building available for sale at 390 E Sunset Way in Issaquah, WA. The property offers seven exam rooms and includes washer/dryer availability. Prominent building signage is also available, supporting visibility for patients and visitors.
The building provides easy access to I-90 and is located close to Downtown Issaquah, offering convenient connectivity for healthcare operations serving the immediate area.
The building provides easy access to I-90 and is located close to Downtown Issaquah, offering convenient connectivity for healthcare operations serving the immediate area.
Key Highlights
- $1,195,000 standalone medical building
- Prominent building signage available
- 7 exam rooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,323
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$606,460
$606.5K
Cap Rate 7%
$433,186
$433.2K
Cap Rate 9%
$336,922
$336.9K
Market Conditions
NOI Build-Up for 1,438 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.8K $36.00/SF
− Vacancy
−$11.3K −$7.88/SF
EGI
$40.4K $28.12/SF
− OpEx
−$10.1K −$7.03/SF
NOI
$30.3K $21.09/SF
Area
King County, WA
Vacancy
21.90%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$606,460
Cap Rate 7%
$433,186
Cap Rate 9%
$336,922
Alternative Uses
Best Use
Office B
$433.2K
$379.0K – $505.4K
NOI $30,323 @ 7.0% cap · market cap 3.05%
Second Best
Healthcare Medical
$272.2K
$238.2K – $317.6K
NOI $19,057 @ 7.0% cap · market cap 1.92%
Theoretical Best
Office A
$576.0K
$504.0K – $672.0K
NOI $40,317 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98027, WA
29,089
Population
12,071
Households
2.4
Avg Household Size
41
Median Age
65%
College-Educated
97%
High-School Grad
57.2 sq mi
ZIP Area
509
Density / Sq Mi
$150,000
Median Household Income
$82,823
Median Earnings
$2,343
Median Rent
$976,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Standalone medical building features prominent signage, seven exam rooms, and washer/dryer amenities with easy access to I-90.
Where is this medical office space located?
The property is located at 390 E Sunset Way Issaquah, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: $1,195,000 standalone medical building; Prominent building signage available; 7 exam rooms
